ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces that on 21 August 2018 it paid the final dividend for the year ended 31 December 2017 of USD 0.18 per share/GDR. The final dividend payment represents 50% of the Company’s consolidated net profit for 2H 2017 (based on the official Central Bank of Russia exchange rate on 27 April 2018).
The final dividend recommended by the Board of Directors is in line with Etalon Group’s approved dividend policy, under which the Company aims to pay out between 40% and 70% of IFRS net profit semi-annually. The dividend paid for 2H 2017 represents a year-on-year increase of 68%.
Previously, Etalon Group paid an interim dividend of USD 0.04 per share/GDR for 1H 2017 on 13 December 2017, bringing the total dividends paid for 2017 to USD 0.22 per share/GDR. The total dividends paid represent 51% of IFRS net profit for FY 2017 (based on official Central Bank of Russia exchange rates as of 10 November 2017 and 27 April 2018), an increase of 61% year-on-year.
This and other recent announcements are available on the Etalon Group website:
Etalon Group IR Team
T: +44 20 8123 1328
T: +44 7554 993 032
T: +7 499 918 3134
About Etalon Group
Founded in 1987 by Viacheslav Zarenkov, Etalon Group has become one of Russia's largest development and construction corporations. The Company focuses on middle class residential real estate in the Moscow and St Petersburg metropolitan areas, where it operates through Etalon Invest and Etalon LenSpetsSMU subsidiaries. With a more than 30-year history, Etalon Group has one of the longest and most successful track records in the Russian real estate industry - since its inception, Etalon Group has commissioned 5.8 million sqm.
Etalon Group's strong reputation among consumers supports its pre-sales business model, which helps the Company to minimise external financing needs for on-going projects while maintaining a secure liquidity position: net debt as of 31 December 2017 was RUB 9.7 billion.
The Company is vertically integrated, which helps it to control costs, quality and timing, as well as to demonstrate best-in-class profitability. Etalon Group employs 5 thousand people, and its nationwide sales and marketing network covers 52 Russian cities.
As of 31 December 2017, Etalon Group's assets comprised 38 projects, with a total of 2.82 million sqm of unsold net sellable area, and a construction and maintenance division. Knight Frank valued the Company’s assets at RUB 135,197 million.
For the year ended 31 December 2017, Etalon Group's new contract sales totalled 512 ths sqm, or RUB 50,240 million. Deliveries in 2017 amounted to 423 ths sqm.
The Company recorded revenue of RUB 70.6 billion and EBITDA of RUB 13.2 billion for the year ended 31 December 2017.
Etalon Group’s GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.
22 August 2018